DAItY DRIVER, INC. Unstifuttert Thit Ralence At December 11 Netes This equals the bank balance. Oaly windshield washer fluid that coet \$3. This amouat aras paid Jaauaty 2 for car in. December 31 of this year. This it the car's purchase price. The car will be two years old at the end of Dtut has not yet paid ar reconled 5800 of DDt paid sll its taxes from last year. Dot iasend 5.000 shares at $5 each. Required: 1. Use the notes to determine and recond adjusting cotrics nceded on Decerabet 31 for (a) supplies used up, (b) insurance costs, (c) using op the car's benefits, (d) salaries not yet accounted for, and (e) income taxes for the year. 2. Pout the adjusting entries from requirement I 10 T-accounts to determine new adjusted balances, and prepare an adjusted trial balance. (ff yoe are completing this exercise uning the general ledger tool in Connect, this roquitement will be completed antomatically for you.) 3. Using the adjusted balunces from requirement 2, pecpare an incoime itatement, statemeat of retained carnings, and classified balance shoct. E4-20 Preparing Rdjusting Entries, an Adjusted Trial Balance, and Financial Statements Bill's Boards (BB) is an outdose advertining company foended by Wiltiam Loogfall. Wrillam Knows very littie accounting so be hired a friend to "kopp the book. - Chfortunately, Willaun did not review his friend's work and oow it secms his friend bas made a mess of the ascounting records. William han provided you the following list of anafjatra account balancer at BB's Scptember 30 fiacal year-end. You have revicwed the balances with Widiat and made nutes ahown in the tight column. A: A: B: B: C: C: D: E: E: DAItY DRIVER, INC. Unstifuttert Thit Ralence At December 11 Netes This equals the bank balance. Oaly windshield washer fluid that coet \$3. This amouat aras paid Jaauaty 2 for car in. December 31 of this year. This it the car's purchase price. The car will be two years old at the end of Dtut has not yet paid ar reconled 5800 of DDt paid sll its taxes from last year. Dot iasend 5.000 shares at $5 each. Required: 1. Use the notes to determine and recond adjusting cotrics nceded on Decerabet 31 for (a) supplies used up, (b) insurance costs, (c) using op the car's benefits, (d) salaries not yet accounted for, and (e) income taxes for the year. 2. Pout the adjusting entries from requirement I 10 T-accounts to determine new adjusted balances, and prepare an adjusted trial balance. (ff yoe are completing this exercise uning the general ledger tool in Connect, this roquitement will be completed antomatically for you.) 3. Using the adjusted balunces from requirement 2, pecpare an incoime itatement, statemeat of retained carnings, and classified balance shoct. E4-20 Preparing Rdjusting Entries, an Adjusted Trial Balance, and Financial Statements Bill's Boards (BB) is an outdose advertining company foended by Wiltiam Loogfall. Wrillam Knows very littie accounting so be hired a friend to "kopp the book. - Chfortunately, Willaun did not review his friend's work and oow it secms his friend bas made a mess of the ascounting records. William han provided you the following list of anafjatra account balancer at BB's Scptember 30 fiacal year-end. You have revicwed the balances with Widiat and made nutes ahown in the tight column. A: A: B: B: C: C: D: E: E
